SOFTWARE & SERVICES 07 APRIL 2009
DAVID SHORE, CFA, MBA 416.860.6784
WEB 2.O WEEKLY firstname.lastname@example.org
Arun Thomas (Associate) 416.860.7666
A QUIET WEEK FOR FINANCING BUT CORPORATE ACTIVITY HEATS UP
SECON D Q UA RT ER FINAN CING BEG IN S SLOWLY
The first week of the second quarter was relatively quiet with only two companies raising a total of $7.5 million.
Socialtext and TubeMogul raised $4.5 million and $3 million, respectively. Socialtext – a social networking and
collaboration company has raised a total of $18 million since April 2003; while TubeMogul (from the analytics sector)
to date has raised $4.5 million.
On the other hand, there were several significant corporate developments announced in the last week. Changyou.com
completed its IPO, raising $120 million. This was the first Chinese IPO completed in quite a few months. Additionally,
Kaboose announced that it would be selling its US assets to Disney and its UK assets to Barclays Private Equity.
C ompany Headline
B a rc lays P rivate E quity L td. agreed to ac quire the UK operation s of
B arcla ys Priva te E quity L td.; K aboos e Inc. (T S X: K AB );
K a boos e Inc . (T S X: K AB ) for £ 54 million.
K aboos e Inc. , UK O perations
Dis ne y O nline a greed to ac qu ire the I nterne t as s ets from K aboos e In c.
Dis ney O nline; K a boos e Inc . (T S X : K AB ); K a boos e Inc .,
(T S X: K A B ) f or $18 .4 million.
Internet As s ets
C han gyou. c om Limite d has c omplete d an IP O in the amount of $ 120. 00
C hangyou.com L imited (Nas daqG S : C Y OU )
This report has been created by Anal ysts that are employed by Research Capital Corporation, a Canadian Investment Dealer.
For further disclosures, please see last page of this report.
Toronto 416.860.7600 Montreal 514.399.1500 Vancouver 604.662.1800 Calgary 403.265.7400 Regina 306.566.7550
THE WEB 2.0 UNIVERSE
Ninety-two public Web 2.0 companies identified: Our Web 2.0 universe contains 92 companies, with a combined market
cap of $38 billion (Figure 1). The average market cap for the group is ~$415 million (but a median of only $42 million),
with average trailing revenue of $145 million (median $53 million). The companies are also generally profitable, with a
median EBITDA margin of 16.8%. On a valuation basis, the overall average is 3.6x trailing revenue (median 1.2x) and 9.1x
trailing EBITDA (median 8.0x). Twelve of the companies have more than 500 employees.
C omparable C ompany Analys is > Web 2.0
Trading C urrent US D Market US D L TM Total US D L TM Total E B ITDA TE V/L TM TE V/L TM
L TM as of Tic ker E xc hange C urrency HQ P rice C ap ($m) R ev ($m) E B ITDA ($m) % R evenue E B ITDA E mployees
C ompany Name
Accelerize New Media, Inc. 9/30/2008 AC L Z OT C B B US D United S ta tes 0.32 8. 6 3.2 (4.7) NM 4.0x - 20
Actoz S oft C o., Ltd. 9/30/2008 A052790 K OS E KRW S outh K orea 12, 500 84.5 56. 1 10.2 18.3% 1.0x 5. 6x NA
AQ Intera ctive, Inc. 12/31/2008 3838 TS E JPY J a pa n 45,900.00 24.8 59. 9 4.8 8.0% - - NA
As s ociated Media Holdings Inc. 6/30/2007 AS MH OT C P K US D United S ta tes 0 0. 1 0.1 (2.3) NM 8.0x - 3
B igs tring C orp. 9/30/2008 BS GC OT C B B US D United S ta tes 0.02 0. 8 0.1 (2.1) NM 29.8x - 8
B eta wa ve C orpora tion 12/31/2008 B W AV OT C B B US D United S ta tes 0 3. 8 7.7 (11.8) NM - - NA
B eyond C ommerce, Inc. 9/30/2008 B Y OC OT C B B US D United S ta tes 1.29 53.3 1.1 (7.7) NM - - 25
B right T hings plc 9/30/2008 AIM:B G T AIM GBP United K ingdom 0 3. 0 0.2 (1.7) NM 12.0x - 9
B roa dW ebAs ia Inc. 9/30/2008 BWBA OT C P K US D United S ta tes 0.45 38.2 0.0 (4.6) NM - - 46
C DC C orp. 9/30/2008 C HIN.A Na s da qG S US D Hong K ong 1 123.0 428.1 18.8 4.4% 0.4x 9. 6x 3,125
C hina G a tewa y C orpora tion 9/30/2008 CGWY OT C B B US D United S ta tes 0.00 0. 0 6.7 (6.6) -98.9% 0.0x - 37
C hines e G amer Internationa l 9/30/2008 G T S M: 3083 GTS M TWD T aiwan 173 442.7 38. 7 18.3 47.1% 9.9x 21.1x NA
C ornerW orld C orporation 1/31/2009 CWR L OT C B B US D United S ta tes 0.14 6. 6 1.3 NM NM 6.1x - NA
C yberplex Inc. 12/31/2008 T S X: C X TS X C AD C anada 1 38.9 46. 1 3.9 8.4% 0.8x 9. 6x NA
DADA S pA 9/30/2008 C M:DA CM E UR Italy 4.50 97.6 226.8 36.2 16.0% 0.6x 3. 9x 574
DXN Holdings B hd 11/30/2008 DXN K LS E MY R Ma la ys ia 0 20.9 78. 1 10.4 13.3% 0.5x 4. 0x NA
Dibz Internationa l, Inc. NA DIB Z OT C P K US D United S ta tes 0.00 0. 0 NA NM NM - - NA
DigitalP os t Interactive, Inc. 9/30/2008 DG L P OT C B B US D United S ta tes 0 1. 5 0.4 (3.3) NM 6.0x - 11
DigitalT own, Inc. 11/30/2008 DG T W OT C B B US D United S ta tes 2.50 67.9 NM (2.5) NM - - 3
Dolphin Digital Media, Inc. NA DP DM OT C B B US D United S ta tes 1 32.6 NA NM NM - - 6
E olith C o. Ltd. 12/31/2007 A041060 K OS E KRW S outh K orea 535.00 19.1 19. 1 (0.1) -0.3% 1.0x - NA
E xtens ions , Inc. 9/30/2008 E XT I OT C P K US D United S ta tes 0 14.2 NM NM NM - - 2
F inancial Media G roup, Inc. 11/30/2008 F NG P OT C B B US D United S ta tes 0.01 0. 6 6.8 1.2 18.3% - - 22
F luid Mus ic C anada , Inc. 9/30/2008 T S X: F MN TS X C AD United S tates 1 21.2 4.2 (8.6) NM 1.9x - 29
F rogs ter Intera ctive P ictures AG 6/30/2008 FR G XT R A E UR G ermany 7.01 22.0 5.4 (3.3) -60.6% 4.0x - NA
G a ma nia Digital E ntertainment C o., L td. 12/31/2008 6180 GTS M TWD T aiwa n 33 150.9 113.4 16.4 14.5% 1.2x 8. 0x NA
G a meOn C o L td. 12/31/2008 3812 TS E JPY J a pa n 90,500.00 86.9 74. 1 19.2 25.9% 0.4x 1. 7x NA
G eoS entric O yj 9/30/2008 G E O 1V HL S E E UR F inla nd 0 25.0 5.5 (12.7) NM 3.6x - 92
G iant Interactive G roup, Inc. 12/31/2008 GA NY S E US D C hina 7.26 1,640.8 233.2 144. 4 61.9% - - NA
G iga Media Ltd. 12/31/2008 G IG M Na s da qG S US D T aiwa n 6 302.0 190.4 46.0 24.2% 1.2x 4. 9x NA
G ra vity C o., Ltd 9/30/2008 GR VY Na s da qG M US D S outh K orea 0.85 23.6 37. 5 7.2 19.2% - - 636
G ree, Inc. 6/30/2008 T S E :3632 TS E JPY J a pa n 5, 760 1,275.9 29. 2 10.5 36.0% 41.6x - NA
G ungHo O nline E nterta inment, Inc. 12/31/2008 3765 OS E JPY J a pa n 126,900.00 144.3 111.6 19.9 17.8% 1.1x 6. 2x NA
Ha nbitS oft, Inc. 12/31/2008 A047080 K OS E KRW S outh K orea 3, 265 54.9 53. 3 (15.0) -28.2% 0.7x - NA
IAC /InterActiveC orp. 12/31/2008 IAC I Na s da qG S US D United S ta tes 16.14 2,274.9 1,445.1 64.6 4.5% 0.4x 8. 1x 3,200
IAS E nergy, Inc. 1/31/2009 IAS C .A OT C B B US D C anada 0 4. 9 0.0 (0.8) NM - - NA
Idea E dge, Inc. 12/31/2008 O T C B B :IDAE OT C B B US D United S ta tes 0.34 14.4 0.0 (4.6) NM - - NA
is eemedia Inc. 12/31/2008 IE E T S XV C AD C anada 0 4. 1 1.2 (4.8) NM 2.1x - NA
J umbuck E ntertainment P ty L td. 12/31/2008 AS X: J MB AS X AUD Aus tra lia 0.46 16.2 12. 7 4.7 37.2% 0.9x 2. 5x 72
J umpT V Inc. 6/30/2008 T S X: J T V TS X C AD C anada 1 50.4 11. 5 (1.8) -15.3% 5.4x - NA
K a boos e Inc. 12/31/2008 T S X: K AB TS X C AD C anada 0.58 65.4 66. 0 6.6 9.9% 1.1x 11.1x NA
K ings oft C o. Ltd. 12/31/2008 3888 S E HK HK D C hina 3 455.8 120.0 46.2 38.5% 3.1x 8. 0x NA
L ingo Media C orporation 9/30/2008 T S XV :L M T S XV C AD C anada 0.83 8. 6 3.3 (1.4) -42.5% 2.8x - NA
L iveW orld Inc. 12/31/2008 LV W D OT C P K US D United S ta tes 0 4. 0 11. 8 (0.5) -4.3% 0.3x - NA
L ookS ma rt, Ltd. 12/31/2008 LOOK Na s da qG M US D United S ta tes 1.20 20.5 65. 0 (2.0) -3.1% - - 90
Magnitude Informa tion S ys tems Inc. 9/30/2008 MAG Y OT C B B US D United S ta tes 0 6. 5 0.1 (3.2) NM - - 13
Mixi, Inc. 12/31/2008 2121 TS E JPY J a pa n 389,000.00 592.9 116.5 44.3 38.0% 4.2x 11.1x NA
Modern T imes G roup Mtg AB 12/31/2008 MT G B OM SEK S weden 151 1,236.3 1,636.0 261. 6 16.0% 1.1x 6. 6x NA
Moggle, Inc 12/31/2008 MMO G OT C B B US D United S ta tes 2.30 83.5 NM (1.1) NM - - 3
MO K O .mobi Limited 12/31/2008 MK B AS X AUD Aus tra lia 0 5. 9 1.0 (2.1) NM 4.7x - NA
NE O W IZ G ames C orpora tion 12/31/2007 A095660 K OS E KRW S outh K orea 50,000.00 368.7 138.2 37.1 26.9% 2.6x 9. 7x NA
NetDra gon W ebS oft, Inc. 12/31/2008 777 S E HK HK D C hina 4 293.3 87. 1 39.9 45.7% 1.7x 3. 7x NA
Neteas e. com Inc. 12/31/2008 NT E S Na s da qG S US D C hina 28.60 3,519.3 451.0 293. 2 65.0% - - NA
NeXplore C orporation 9/30/2007 NXP C OT C P K US D United S ta tes 1 41.8 NM (4.9) NM - - 19
Ngi G roup Inc. 12/31/2008 2497 TS E JPY J a pa n 23,200.00 28.5 97. 6 30.1 30.8% - - NA
Northgate T echnologies L imited 12/31/2008 590057 BS E INR India 41 28.6 134.6 23.7 17.6% 0.2x 1. 2x 286
O pen T ext C orp. 12/31/2008 OT E X Na s da qG S US D C anada 33.64 1,745.9 769.3 195. 0 25.3% 2.4x 9. 6x 3,400
O penwa ve S ys tems Inc. 12/31/2008 OP W V Na s da qG S US D United S ta tes 1 103.3 199.6 (10.2) -5.1% 0.1x - 627
P erfect W orld C o., Ltd. 12/31/2008 PWRD Na s da qG S US D C hina 16.15 852.0 210.1 113. 7 54.1% - - NA
P hotoC hannel Networks Inc. 12/31/2008 T S XV :P N T S XV C AD C anada 2 43.2 16. 1 (0.8) -4.9% 2.6x - NA
Q uepa s a C orp. 12/31/2008 QP S A Na s da qC M US D United S ta tes 0.99 12.6 0.1 (11.4) NM - - NA
O AO R B C Informa tion S ys tems 12/31/2007 R BCI R TS US D R us s ia 0 55.5 142.0 18.6 13.1% 0.0x 0. 1x NA
S handa Intera ctive E nterta inment Ltd. 12/31/2008 S NDA Na s da qG S US D C hina 42.71 2,963.3 521.9 239. 8 46.0% 0.0x 0. 1x NA
S hutterfly, Inc. 12/31/2008 S F LY Na s da qG S US D United S ta tes 10 245.2 213.5 28.4 13.3% 0.7x 5. 5x 514
S K C ommunica tions C o., Ltd. 12/31/2007 A066270 K OS E KRW S outh K orea 8,400.00 264.8 159.0 15.0 9.4% 1.7x 17.7x NA
S NAP Interactive, Inc. 9/30/2008 S TVI OT C B B US D United S ta tes 1 8. 1 2.3 0.2 10.1% 3.1x 30.2x 5
S NM G loba l Holdings 9/30/2008 S NMN OT C P K US D United S ta tes 0.00 0. 0 2.0 (0.7) -34.8% 1.1x - 33
S ocial Media V enures , Inc. 12/31/2008 S MV I OT C P K US D United S ta tes 1 0. 0 0.1 (0.1) -60.5% 0.0x - NA
S ohu.com Inc. 12/31/2008 S O HU Na s da qG S US D C hina 46.23 1,762.1 429.1 180. 5 42.1% 3.4x 8. 0x 3,197
S ites earch C orpora tion 1/31/2009 S TPC OT C B B US D United S ta tes 3 28.2 NM (1.1) NM - - 15
S park Networks , Inc. 12/31/2008 LOV AME X US D United S tates 2.25 46.2 57. 3 12.3 21.5% 0.8x 3. 8x 183
S pectrumDNA, Inc. 9/30/2008 S P XA OT C B B US D United S ta tes 0 7. 3 0.1 (2.7) NM - - 7
T encent Holdings L td. 12/31/2008 700 S E HK HK D C hina 60.30 13,995.5 1,046.1 517. 4 49.5% 14.5x 29.2x 6,194
T he P arent C ompa ny 8/2/2008 K IDS .Q OT C P K US D United S ta tes 0 0. 5 112.0 (13.5) -12.0% 0.2x - 347
T he9 L imited 12/31/2008 NC T Y Na s da qG S US D C hina 14.15 379.5 249.8 84.1 33.7% - - NA
T heS treet. com, Inc. 12/31/2008 TS CM Na s da qG M US D United S ta tes 2 60.7 71. 9 7.0 9.7% - - 310
T ota l S port O nline AS 3/31/2006 T OS O OT C NO NO K Norwa y 0.04 0. 2 2.0 (1.0) -50.6% 4.6x - 16
T ree.C om, Inc. 12/31/2008 TR E E Na s da qG M US D United S ta tes 5 51.1 228.6 (23.9) -10.4% 0.2x - 700
Unis erve C ommunications C orp. 11/30/2008 T S XV :US S T S XV C AD C anada 0.04 0. 8 24. 1 0.1 0.4% 0.1x 29.5x NA
United O nline Inc. 12/31/2008 UNT D Na s da qG S US D United S ta tes 5 416.5 669.4 153. 9 23.0% 1.1x 4. 7x 1,469
UO MO Media, Inc 1/31/2009 UO MO OT C B B US D C anada 0.08 6. 9 0.6 (0.5) -78.2% 11.3x - NA
V a lueC lick Inc. 12/31/2008 V C LK Na s da qG S US D United S ta tes 9 798.1 625.8 113. 6 18.2% 1.1x 5. 9x 1,189
V O IS , Inc. 12/31/2008 V O IS OT C B B US D United S ta tes 0.23 1. 9 0.0 (1.3) NM - - 4
W ebzen Inc. 9/30/2008 W ZE N Na s da qG M US D S outh K orea 2 26.7 21. 6 (6.4) -29.5% - - 330
W izza rd S oftware C orporation 9/30/2008 W ZE AME X US D United S ta tes 0.46 21.7 6.2 (6.5) NM 3.5x - 110
W oozyF ly, Inc. 9/30/2008 W ZY F OT C B B US D United S ta tes 0 2. 6 0.0 NM NM - - 14
W orlds .com Inc. 9/30/2008 W DDD OT C B B US D United S ta tes 0.17 8. 9 0.1 NM NM - - 1
W ynds torm C orpora tion NA W Y ND OT C B B US D United S ta tes 0 3. 1 NA NM NM - - NA
X ING AG 12/31/2008 O 1B C XT R A E UR G ermany 29.29 200.7 46. 7 15.0 32.0% 3.1x 9. 6x NA
Y eda ngO nline C orp. 12/31/2007 A052770 K OS E KRW S outh K orea 8, 670 104.0 52. 6 11.8 22.4% 2.0x 8. 8x NA
Y nk K orea Inc. 12/31/2007 A023770 K OS E KRW S outh K orea 4,385.00 8. 2 14. 9 (1.1) -7.6% 0.6x - NA
ZipLocal Inc. 12/31/2008 T S XV :ZIP T S XV C AD C anada 0 1. 0 2.6 (2.8) NM 0.8x - NA
High 13,995.5 1,636.0 517.4 65.0% 41.6x 30.2x 6, 194
L ow 0. 0 0. 0 -23.9 -98.9% 0.0x 0. 1x 1
Average 415.0 144.5 32.1 8.9% 3.6x 9.1x 600
Media n 41.8 52.9 1. 2 16.8% 1.2x 8. 0x 92
Figure 1. Web 2.0 Universe Summary
Source. Capital IQ
CAPITAL MARKETS ACTIVITY (M&A AND FINANCING)
April starts a tad slow : The first week of April saw only 2 financings totalling $7.5 million ($4.5 million raise by Socialtext
and $3 million by TubeMogul). For the month of March, 22 financings were announced (total $130.7 million, average $5.9
million) compared to 25 financings announced in February, totalling $185.5 million, or $7.4 million on average (Figure 2).
The average value for February was above the $6.8 million average for January, with four financings over $15 million in
February (Twitter, Synthasite, Tremor Media, and Offerpal Media) vs. no deals over $15 million in January.
Financing Activity Last Three Months
Feb-09 Mar-09 Apr-09
Figure 2. Financings, Last Three Months
Source. Company reports
Socialtext largest deal in April: The first week of April saw two only deals and the greater of the two was the $4.5 million
Series D round for SocialText (Figure 3), with TubeMogul closely behind with a $3 million Series A. For additional details,
see Figures 24 and 25 (at end of note).
Financing Summary - Last Three Months
7 Billion People
Figure 3. Capital Market Activity, Last Three Months
Source. Company reports
Video continues to be the most active sector: Activity over the last three months was busiest in the video sector, with 8
companies raising over $63.4 million (Figure 4). Social networking companies have the next highest totals, with 10
companies raising $53 million.
Capital Market Activity by Sector - Last Three Months
5.5 4.3 4.1 4.0 3.9 3.1 2.0 2.0 1.4 1.3 0.8
8 10 2 6 3 4 1 3 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
Figure 4. Capital Market Activity, by Sector, Last Three Months
Source. Company reports
CAPITAL MARKETS ACTIVITY (PRICE PERFORMANCE)
Price Performance: Our Web 2.0 index (market-cap weighted) underperformed the NASDAQ composite index from mid
2008 until recently when it has moved higher than the NASDAQ index (Figure 11).
Web 2.0 Index Price Performance
^COMP - Share Pricing Index: Web 2.0 X (Market Cap)
Figure 5. Web 2.0 Price Performance
Source. Capital IQ
A positive week: Most of the companies in our universe had positive stock price performances over the past week (for
stocks with prices greater than $1) (Figure 6), with 22 companies showing positive returns on the week. Beyond
Commerce Inc. (BYOC-OTCBB) led the group with a 152.9% return over the past week. GigaMedia (GIGM-NasdaqGS) had
the worst return, dropping 5.4% in the week.
1 Week P rice P erformance
B ey ond Commerce, Inc . 152.9%
Openw ave S y s tems Inc . 37.8%
Webz en Inc. 28.6%
Perfect World Co., Ltd. 18.9%
LookS mart, Ltd. 18.8%
V alueClick Inc. 17.2%
United Online Inc . 16.6%
S handa Interactive Entertainment Ltd. 16.0%
S ohu.com Inc. 15.3%
A Q Interactive, Inc . 14.8%
Tree.Com, Inc. 14.5%
The9 Limited 14.4%
Neteas e.com Inc . 13.1%
Modern Times Group Mtg A B 11.6%
Frogs ter Interactiv e Pictures A G 6.4%
Giant Interactive G roup, Inc. 6.3%
IA C/InterA ctiv eCorp. 5.9%
CDC Corp. 5.6%
S hutterfly , Inc. 4.4%
Mix i, Inc . 2.9%
G ree, Inc. 2.9%
XING A G 1.7%
TheS treet.com, Inc . 0.0%
PhotoChannel Netw orks Inc. 0.0%
Open Tex t Corp. -1.4%
S park Netw orks , Inc . -2.2%
G ameOn Co Ltd. -3.3%
Ngi G roup Inc. -4.5%
DA DA S pA -5.2%
GigaMedia Ltd. -5.4%
-20.0% 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 120.0% 140.0% 160.0% 180.0%
Figure 6. 1-Week Price Performance
Source. Capital IQ
INDUSTRY NEWS (PARTNERSHIPS, FINANCIAL RESULTS, NEW PRODUCTS)
K ey Developments
C ompany Headline Notes
B arc lays P rivate E quity Ltd. ; K aboos e B a rcl a ys P riva te E quity L td. a greed to a c quire the U K B a rcla y s P riv a te E quity L td. agreed to a cqu ire the U K opera tions of K a boos e Inc . (TS X: K AB ) for £ 54 million on M a rch 31, 2009.
opera tions of K a boose I nc. (T S X : K AB ) for £54 million.
Inc . (TS X:K AB); K abo os e Inc . , UK
B etawave Co rporation (OT CB B: B WA V) B eta wa ve C orporation R eports C ons olida ted E a rnings B eta wa ve Corpora tion reported c ons olida ted ea rnings res ults for the full yea r ended Dec embe r 31, 2008. F or the period, R ev enues were
R es ults for the F ull Y ea r E nded D ec ember 31, 2008 $7,701, 599 a ga ins t $2, 081,182 a yea r a go. Net los s wa s $16,969, 985 or $0. 66 per ba sic and diluted s ha re a gainst net loss of $16,377, 858
or 0. 68 per ba s ic a nd diluted sha re, a yea r a go. N et ca s h us ed in opera ting a c tivities wa s $7,077, 358 a ga ins t $13, 550,034 a y ea r a go.
B eyond Commerce, Inc . a nnounc ed dela y ed a nnua l 10-K O n 03/31/2009, B eyond Commerce, I nc . a nnounced tha t they will be una ble to file thei r next 10-K by the dea dlin e required by the S E C .
B eyond Co mmerc e, Inc .
(OT CB B: B YOC)
B roa dW ebAs ia I nc. a nnoun ced dela yed a nnua l 10-K filing O n 04/01/2009, B roa dW ebAsia Inc . a nnounc ed that they will be una ble to file their next 10-K by the dea dline required by the S E C .
B roadWebAs ia Inc . (OT CP K : B WB A)
Cha ngy ou.c om L imited ha s c ompleted a n IP O in the Cha ngy ou.c om L imited ha s c ompleted a n I P O in the a mount of $120. 00 million.
C hang yo u. c om L imited
a mount of $120.00 million.
(N as daqG S : C YOU)
O ffer D eta ils :
S ecurity Ty pe: C ommon S toc k (D eposita ry R ec eipts )
O ffered: 7500000
P rice/R a nge: 16.00
China G a tewa y Corpora tion will Cha nge its Tic ker to E ffectiv e April 06, 2009, C hina G a tewa y C orpora tion will c ha nge its O T CB B stoc k tic k er s ymbol to C G W Y E from CG W Y .
C hina G ateway Corporatio n
CG W Y E from C G W Y
(OT CB B: C G W Y)
Digita lF X Internationa l I nc. L a unches F 5 Ca mpa ign M a il Digita lFX Interna tiona l I nc. a nnounc ed tha t it ha s begun s hipping its C ommF 5 S uite product li ne to its independent dis trib utor network. T he
DigitalF X International, Inc .
P roduct F5 e-ma rk eting tool will ena ble s ma ll bus iness es to ea s ily c re a te a nd dis tribute ema il marketing c a mpa igns a t a n a fforda ble price. W ith the
(OT CB B: DG F X)
declining us a ge of tra ditiona l a dvertis ing c ha nnels s uch a s Y ellow P a ges or news pa pers , busines s es a re c ons ta ntly sea rc hing for solutions
whic h c a n meet the c ha llenges of the internet a ge. F 5 is suc h an a pplic a tion . B usines s es, internet ma rketers , non-profit organiz a tions a nd
a ss ocia tions of a ll k inds would ha ve to us e a va riety of s ervic es and a pplica tions to a c complis h wha t F5 provides in one singl e s olution. A
pa rtial list of F5 func tiona lity inc ludes : Integra ted v ideo a nd a udio c reation, pla ylis ts, pic ture ga lleries , media s tora ge a nd media publis hing;
Full ema il c lient with video, a udio, a nd templa te integra tion for indiv idua l follow up; C ontac t lis t ma nager; L ea d c a pture; Auto-res ponder;
Cus tomize d templa te crea tion; a nd E ma il delive ry re porting a nd a na ly tic s .
Digita lP os t Intera c tiv e I nc. R eports E a rnings R esults for Digita lP ost Intera ctive I nc. reported ea rning s results for the fourth qua rter a nd full year ended Dec ember 31, 2008. F or the qua rter, the
DigitalP os t Interac tive, In c .
the F ourth Q ua rter a nd F ull Y ear E nded Dec ember 31, compa ny reported net los s wa s $678,600 a dec rea s e of $205, 200 or 23% a s c ompa red to a net loss of $883,800 for the third qua rter of
(OT CB B: DG L P )
2008 2008. This wa s a c hieved by reducing opera tiona l ex penses by $323, 900 or 40% from the thi rd qua rter of 2008.
For the full y ea r, the compa ny reported growth in rev enue of $488,900 a 314% inc rease from $118,100 for the s a me period la st yea r. T he
growth is la rgely due to the c ompa ny's s tra tegic ma rketing pa rtners hip with K iddie K andids, which la unc hed in the fourth quarter of 2008.
Ca s h us ed by opera ting a ctivities improved by 12% to $1,515 ,700 for the year ended Dec ember 31, 2008, a s c ompa red to $1,724, 700 c a s h
used during the sa me period la s t yea r. N et los s inc rea sed to $4,017, 200 from a net los s of $2, 544,500 for the s a me period la st yea r.
Dis ney O nline a greed to a c quire the Internet a s sets from Dis ney O nline a greed to ac quire the Internet a ss ets from K a boose I nc. (T S X : K AB ) for $18.4 million on April 1, 2009. T he a s sets wi ll be
Dis ney Online; K aboos e Inc .
K a boos e I nc. (T S X : K AB ) for $18. 4 million. integra ted into Dis ney O nline’s extens ive line-up of web s ites.
(T S X: K AB); Kaboos e Inc ., Intern et
A s s ets
G iga Media a nd E A M ythic to L a unc h T a iwa n Clos ed B eta G iga Media L td. a nd E A My thic a nnounced tha t the clos ed beta for the highly a c cla imed MMO R P G will begin on April 15th, 2009. As pa rt of
E A Myth ic; G igaMedia Ltd.
for W arha mmer O nline: Age of R ec k oning the clos ed beta la unch, clos ed beta pa ck s will be a va ila ble a t ma jor reta ilers. The L imited E dition c losed beta ga me pa c ks , av a ila ble a t
(N as daqG S : G IG M)
pa rtic ipa ting 7-E lev en(R ) reta ilers in T a iwa n, ha v e been sold out. Fea turing i nnova tive R v R game pla y a nd P ublic Q ues ts (TM ), pla yers are
immers ed in a world of perpetua l conflic t between the a rmies of O rder and Des truc tio n. Nov ice MM O pla y ers a nd vetera ns a like will
a pprecia te the incredible depth a nd va riety a va ila ble in W AR .
E xtensions , I nc. a nnounced dela yed a nnua l 10 -K filing O n 03/31/2009, E xtensions , I nc. a nnounc ed tha t they will be una b le to file their next 10-K by the dea dline required by the S E C .
E xtens ions , In c . (OT CP K :E XTI)
G iga Media L td. R eports Una udited C ons olida ted G iga Media L td. reported una udited cons olida ted earnings res ults for the fourth qua rter a nd full yea r ended D ec ember 31, 2008. F or the
G igaMedia L td. (N as daqG S : G IG M)
E a rnings R esults for the F ourth Q ua rter a nd Full Y ea r quarter, the c ompany's rev enues increas ed 1% to $44.6 milli on from $44. 2 million in the s a me period of 2007. Y ear-ov er-yea r results
E nded D ec ember 31, 2008; Announc es I mpa irment reflec ted c ontinued organic growth i n the c ompany's ga ming s oftwa re bus iness , whic h offset d ecrea s ed fourth-qua rter contributions from the
Cha rges Asia n online ga mes bus ines s. I nc ome from opera tions decrea s ed 16% y ear-over-year to $7. 9 million from $9.4 mil lion in the fo urth qua rter of
2007. The year-ov er-yea r decrea s e in inc ome from opera tions wa s la rgely due to a decline in the compa ny 's cons olida ted operating ma rgin
to 17.7% in the fourth quarter from 21. 3% a y ea r a go. Non-G AAP inc ome from opera tions wa s $8. 0 million, down 21% yea r-ov er-year. T he
compa ny reported inc ome from co ntinuing opera tions before income ta x es a nd minority interes t of $8. 58 million compa red to $9.72 million
reported a y ea r a go. Inc ome from continuing opera tions wa s $8. 08 million or $0. 13 per diluted s ha re c ompa red to $10. 63 million or $0.18 per
diluted share reported a yea r a go. Net income d ecrea s ed 15% to $9. 1 million or $0. 15 per diluted s ha re from $10. 7 million or $0. 18 per diluted
G iga Media L td., Q 4 2008 E a rnings C a lls , M a r-31-2009 G iga Media L td. , Q 4 2008 E a rnings C a lls , Mar-31-2009
G igaMedia L td. (N as daqG S : G IG M)
G ra vity Co. , L td, Annua l G enera l M eeting, M a r 31, 2009 G ravity Co. , L td, Annua l G enera l Meeting, M a r 31, 2009, a t 10:00 K orea S ta nda rd Time. L oc a tion: Nuritkum S qua re B us ines s Tower 15F ,
G ravity Co ., L td (N as daqG M: G R VY)
1605 S a nga m-D ong, Ma po-G u, S eoul 121-270 K orea , S outh K orea . Agenda : To cons ider a udit results a nd b reports for the y ea r ended
Dec ember 31, 2008; to c ons ider the approv al of B alance S heet, Inc ome S ta tement, a nd S ta tement of Appropria tion of R eta ined E a rnings for
the 2008; to a ppointment of Direc tors ; to c ons ider the a pprov a l of a mendment of Artic le of I ncorpora tion; a nd to c onsider the approva l of the
compens a tion ceiling for the D irectors in 2009.
G ra vity Co. Ltd. Announc es N on-cons olida ted E a rnings G ravity Co. L td. a nnounc ed non-c ons olida ted ea rnings res ults for the fis ca l y ea r ended Dec ember 31, 2008. F or the yea r, the c ompany
G ravity Co ., L td (N as daqG M: G R VY)
R es ults for the F isc a l Y ea r E nded Dec ember 31, 2008 reported R ev enue wa s K R W 41, 983 million ($33,267, 000), representing a 24. 6% i ncrea s e from K R W 33, 686 million for 2007. R oya lties a nd
licens ing fees rev enues for 2008 were K R W 31,587 million ($25, 029,000), representing a 25.6 % inc rea se from K R W 25, 153 million for 2007.
This inc rea s e wa s primarily a ttributed to: (i) inc rea sed revenues from J apa n a nd (ii) a ppreciation of Ja panes e Y en a ga ins t K orea n W on in
2008. Also , the increa s es in ga me s ervic es revenue from commerc ia l s ervic e of R equiem in the U .S . a nd R uss ia and E mil C hronic le O nline
in T ha ila nd, T a iwa n a nd H ong K ong ha ve c ontributed to the overa ll increas e in rev enues. T he Compa ny recorded a net income of K R W 921
million ($730, 000) for 2008 co mpa red with a net los s of K R W 27, 559 million for 2007.